Real Estate Analysis and Commentary in WINTER HAVEN

Polk County Foreclosures Increase

January 15th, 2015 7:57 AM

Polk County home foreclosures increased in 2014. In that period, 6,471 homes received foreclosure notices which equates to 2.3 per cent of all homes in the county. This was the sixth highest of all metro areas in the U. S. Here's what seems to be going on. Lenders have been holding back on these properties in order to allow the market to stabilize and not flood the market with these distressed sales. In doing so, they are able to realize a greater return when deposing of these properties.

As I research sales for appraisal assignments in Polk County, distressed sales continue to be found. However, their numbers are much less than two years ago. I am able to use typical arm's length transactions for most appraisals.

Posted by Dave Hohman, ASA on January 15th, 2015 7:57 AMPost a Comment